Pegasus Park, Dallas
TechFW and LaunchBio, the national network of life sciences innovators, have launched the first cohort of biotech and life sciences startups for TechFW's new ThinkLab accelerator in Dallas.
The eight Dallas-based firms are enrolled in TechFW’s ThinkLab program and will graduate from the 12-week virtual intensive training program in April, TechFW and LaunchBio said Wednesday.
It’s the first time TechFW has designed a ThinkLab cohort just for biotech and life sciences firms, and will allow “firms to learn from the curriculum and each other,” Hayden Blackburn, executive director of the Fort Worth-based TechFW, said in a release.
TechFW confirmed the partnership earlier in the winter, at the same time it announced the hiring of an assistant director to help expand the 23-year-old incubator's reach and fundraising development.
TechFW decided to start the Dallas cohort because of growing demand for its incubation programs by Dallas startups. TechFW programs, for one, do not require client firms to surrender any equity. ThinkLab helps startups determine whether there’s sufficient value in their idea, identify markets, develop go-to-market strategy, and learn how to communicate the idea’s value.
“We are excited to join LaunchBio and its partners to add important resources to support company formation and growth in North Texas,” Blackburn said.
TechFW and LaunchBio plan to offer a second cohort for Dallas-based life science entrepreneurs this fall.
The partnership will provide business training for free to “first-time” scientist entrepreneurs. They may eventually choose to locate their companies at Pegasus Park, a 23-acre mixed-use development under construction near the Dallas Design District and UT Southwestern Medical District.
Pegasus Park will be home to the Biotech+ Hub, offering wet labs, training, and office space that will be targeted at early stage life sciences companies with potential to grow into high-growth ventures.
“We are strengthening the support network for scientists in Dallas who want to take a game-changing idea from the research lab to the marketplace for the benefit of human health,” Becky Beattie, CEO of LaunchBio, said in the release. “ThinkLab has a successful track record with life science startups in Fort Worth, and we are pleased to bring the best-in-class offering to Dallas. It’s part of LaunchBio’s overall strategy to elevate the North Texas region’s standing as a top-tier biotech hub.”
The first Dallas ThinkLab participants “were selected in a competitive process that matched aspiring entrepreneurs with technologies that have a high potential for commercial services, as well as brining on aspiring biotech entrepreneurs and their new ventures,” TechFW and LaunchBio said.
Five of the eight startups are “associated with the University of Texas Southwestern Medical Center,” including faculty, post-doctoral fellows, medical students, and graduate students.
The firms are:
- AllergenIQ: In-home diagnosis and treatment for allergy patients, including testing kits, online telemedicine consulting, online platform for allergists.
- Cytolytics: Investigational gene therapy to treat fatty liver disease.
- Element Lab: Developing a process to reduce the time in bio-manufacturing for cancer treatments
- SID Technologies: Developing biomedical approach to advance drug discovery by improving identification of small molecule targets.
- SO!O: Developing ultrasound probe holder
The other three firms were not identified by name by TechFW and LaunchBio:
One is licensing technology to develop vascular trapping sheaths and guide catheters for use in endovascular interventions and diagnostic angiography. Another is licensing technology to develop a nano-particle formulation for targeted gene therapy of lung disease. The third is licensing technology to improve diagnosis and treatment of psychiatric patients, with the goal of integrating biomarkers into clinical trials to develop new therapies.
“Students and faculty are looking for opportunities to use their academic research to solve real-world problems,” Brad Phelan, director of technology commercialization at UT Southwestern, said in the release. “UT Southwestern has expanded its programs in technology licensing, entrepreneurship and mentorship to meet this growing demand. We hope to see more spin-offs creating jobs, economic growth, and a better quality of life for our citizens.”